VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Hims & Hers Health, Inc. vs The Progressive Corporation

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Hims & Hers Health, Inc.

HIMS · New York Stock Exchange

Market cap (USD)$7.6B
Gross margin (TTM)75%
Operating margin (TTM)5.2%
Net margin (TTM)6.1%
SectorHealthcare
IndustryMedical - Equipment & Services
CountryUS
Data as of2025-12-29
Moat score
51/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Hims & Hers Health, Inc.'s moat claims, evidence, and risks.

View HIMS analysis

The Progressive Corporation

PGR · New York Stock Exchange

Market cap (USD)$124.8B
Gross margin (TTM)26.3%
Operating margin (TTM)15.9%
Net margin (TTM)12.6%
SectorFinancials
IndustryInsurance - Property & Casualty
CountryUS
Data as of2026-01-04
Moat score
75/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into The Progressive Corporation's moat claims, evidence, and risks.

View PGR analysis

Comparison highlights

  • Moat score gap: The Progressive Corporation leads (75 / 100 vs 51 / 100 for Hims & Hers Health, Inc.).
  • Segment focus: Hims & Hers Health, Inc. has 2 segments (97.4% in Online Platform); The Progressive Corporation has 2 segments (85% in Personal Lines).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Hims & Hers Health, Inc. has 3 moat types across 2 domains; The Progressive Corporation has 5 across 2.

Primary market context

Hims & Hers Health, Inc.

Online Platform

Market

Direct-to-consumer telehealth + subscription pharmacy (cash-pay) for lifestyle and chronic conditions

Geography

Primarily United States

Customer

Consumers (end-users), paid out-of-pocket; supported by affiliated provider networks and pharmacy fulfillment

Role

D2C digital health platform + fulfillment (mail-order pharmacy and partners)

Revenue share

97.4%

The Progressive Corporation

Personal Lines

Market

U.S. private passenger auto insurance (dominant) plus specialty personal lines and homeowners/renters (small portion)

Geography

United States

Customer

Individuals/households

Role

Primary insurer (P&C)

Revenue share

85%

Side-by-side metrics

Hims & Hers Health, Inc.
The Progressive Corporation
Ticker / Exchange
HIMS - New York Stock Exchange
PGR - New York Stock Exchange
Market cap (USD)
$7.6B
$124.8B
Gross margin (TTM)
75%
26.3%
Operating margin (TTM)
5.2%
15.9%
Net margin (TTM)
6.1%
12.6%
Sector
Healthcare
Financials
Industry
Medical - Equipment & Services
Insurance - Property & Casualty
HQ country
US
US
Primary segment
Online Platform
Personal Lines
Market structure
Competitive
Oligopoly
Market share
n/a
16.7% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
51 / 100
75 / 100
Moat domains
Demand, Supply
Supply, Demand
Last update
2025-12-29
2026-01-04

Moat coverage

Shared moat types

Brand TrustOperational Excellence

Hims & Hers Health, Inc. strengths

Habit Default

The Progressive Corporation strengths

Learning Curve YieldService Field NetworkSuite Bundling

Segment mix

Hims & Hers Health, Inc. segments

Full profile >

Online Platform

Competitive

97.4%

Wholesale

Competitive

2.6%

The Progressive Corporation segments

Full profile >

Personal Lines

Oligopoly

85%

Commercial Lines

Competitive

15%

Want the full wide moat stocks list?

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.